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Hormel Foods to Cut 250 Jobs Amid Restructuring, Cites Need to Balance Costs and Reinvest
Hormel Foods plans to reinvest savings from cutting 250 jobs into technology, innovation, and food safety to address profit declines and supply chain challenges.
- On Tuesday, Nov. 4, Hormel Foods announced it will cut 250 corporate and sales staff roles as part of a restructuring to balance cost discipline with reinvestment.
- Operational troubles including a Skippy peanut butter plant fire and bird flu among Jennie-O turkeys led Hormel to trim profit expectations for the fiscal quarter that ended last month.
- Hormel will trim staff by eliminating corporate and sales roles through layoffs, voluntary early retirements, and closing positions, sparing Austin processing plant workers and affecting 1,400 corporate staff among 3,300 Austin-based employees, with changes effective by end of 2025.
- Interim CEO Jeff Ettinger said `Our focus is on providing support and resources to those impacted as they transition from the company,` and Hormel Foods leadership expects to reinvest savings into technology, innovation, food safety, quality and people capabilities to strengthen brands and improve efficiency.
- The move joins restructuring at other Minnesota firms, including Target and Cargill, and adds to a creeping chill in Minnesota's labor market amid post-pandemic recovery challenges.
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Hormel Foods to cut 250 corporate and sales roles as part of restructuring
AUSTIN, Minn. — Hormel Foods is cutting approximately 250 office roles from its workforce through early retirements and layoffs as part of a restructuring to “thoughtfully align resources.” The giant food brand announced the cuts to its corporate and sales areas on Tuesday, Nov. 4. The cuts will not impact workers in the food processing plants, according to Hormel. The restructuring announcement did not state whether the 250 roles are being cut …
·Fargo, United States
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Total News Sources12
Leaning Left1Leaning Right3Center5Last UpdatedBias Distribution56% Center
Bias Distribution
- 56% of the sources are Center
56% Center
11%
C 56%
R 33%
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